Property

1407

Firstly, before you buy, I would suggest you rent a place for a year to give you time to make the right decisions. The property boom in the early 2000’s has eased off, to say the least and costs have levelled, but vary from town to town and location …

Cyprus is a fast changing country, and with our entry to Europe in 2004 and the Euro 2008, the first invasion was then, and I truly believe that now is the time to buy and can see a few Roman Abramovich’s popping over to see what all the fuss is about and we all know what that means! “No problem!” I hear the soon to be rich farmers and fisherman shout!
And, then, as it becomes the stepping-stone to the East, business’ will flourish, tourism will double, we’ll still only have 30 days rain a year, hence all the solar power panels on the roofs, all leading into the inevitable future which will well and truly put Cyprus on the world map …

Needless to say, investing in property here makes good sense, apart from being one of the best places in the world to live, it has to be the top sun sea, sex, holiday destination anywhere. Do bear in mind; making such an important decision will require the same care and attention to detail in Cyprus, as in any other part of the world. So take your time and please do your homework …

There’s a vast choice of property from, studio flats, in the Ayia Napa/Larnaca area starting at about € 50,000, rising significantly towards the Paphos area, due to lower building density and higher land prices. Obviously prices increase as you add plot size, bedrooms, covered square metres and location, sea frontage, town etc. An older two bedroom, detached house with a little land or garden inland, starts around € 90,000. More realistically, a new 3 or 4 bedroom house with a sea view, that most of us would live in, would more likely start at € 150,000 …

Finally, do make sure that the Freehold Documents are available, as there’s some silly law that seems to hold up this particular detail, which may cause you problems in the future, although I hasten to add, often as not doesn’t. All in all it’s as safe, if not safer to buy property in Southern Cyprus as in most other European countries. The laws reflect a great deal on British Law, so as long as you have a reputable estate agent you should be set …

Cyprus, a great quality of life!